Orion Flour Mills purchased a new machine and made the following expenditures: Purchase price $…

Orion Flour Mills purchased a new machine and made the following expenditures:           Purchase price $ 66,000   Sales tax   5,550   Shipment of machine   910   Insurance on the machine for the first year   610   Installation of machine   1,820       The machine, including sales tax, was purchased on account, with payment due in 30 days. The other expenditures listed above were paid in cash.   Required: Record the above expenditures for the new machine. (If no entry is required for a particular transaction/event, select “No Journal Entry Required” in the first account field.)    

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